Latest news with #DeemFinance
CairoScene
15-04-2025
- Business
- CairoScene
UAE's Deem Finance Secures $400 Million Debt Facility From JP Morgan
The financing will support Deem's expansion into consumer and SME lending, as demand for non-bank credit grows across the UAE. Apr 15, 2025 Deem Finance, a UAE-based non-bank lender backed by the Gargash Group, has secured a $400 million debt financing facility from JP Morgan. The asset-backed securitisation (ABS) deal is structured as a senior revolving facility and is backed by receivables from across Deem's existing portfolio, including credit cards and other consumer financial products. The funding is set to enhance Deem's balance sheet and support the company's ongoing expansion into consumer and small business lending. Deem currently offers a suite of products targeting underserved segments in the UAE, ranging from personal loans and credit cards to auto loans and SME financing. Daman Investments acted as Deem's financial advisor for the transaction. The facility marks a significant step in the lender's strategy to diversify its capital base and meet the growing demand for alternative financing solutions in the UAE. Founded in 2019, Deem Finance is fully owned by the Gargash Group, a family-run conglomerate with longstanding operations in both the automotive and financial services sectors. The deal aligns with a broader trend in the region, where non-bank financial institutions are tapping international capital markets to bolster lending capabilities and fuel fintech innovation.
Gulf Business
06-03-2025
- Business
- Gulf Business
Deem Finance lands $400m J.P. Morgan deal to fuel UAE lending
Credit: Getty Images Financial services provider Deem Finance has partnered with J.P. Morgan in a $400m securitisation facility to support its lending activities for consumers and SMEs in the UAE. The asset-backed securitisation (ABS) structure will provide Deem with long-term institutional financing to strengthen its balance sheet and funding strategy. Deem Finance, which forms part of the UAE's Gargash Group and is regulated by the UAE Central Bank, will receive up to $400m through a senior revolving facility backed by a diversified pool of receivables. The structure is designed to offer flexibility, allowing funding to adjust based on the company's portfolio growth and composition. 'This landmark transaction showcases our deep belief in the UAE's financial landscape,' said Shehab Gargash, chairman of Deem Finance. 'By leveraging our expertise and partnering with J.P. Morgan, we are enabling Deem's expansion while enhancing access to credit for consumers and SMEs,' Gargash added. The agreement aligns with Deem's strategy to enhance financial inclusion and accessibility. By diversifying its funding sources through the deal with J.P. Morgan, Deem also seeks to strengthen its ability to serve underbanked segments. The funding will also support Deem's range of financial products, including credit cards, personal and auto loans, merchant financing, and corporate investments. According to its website, Deem offers personal loans to individuals earning at least Dhs5,000, with interest rates ranging from 15.99 per cent to 34.99 per cent per year. J.P. Morgan executives emphasised the deal's role in expanding credit access across the UAE. 'We are pleased to be collaborating with Deem on this strategic transaction. Access to credit is vital for the local economy, and we are pleased to work with Deem on this initiative to support consumers and small businesses in the UAE,' said George Deves, co-head of Northern Europe ABS at J.P. Morgan.
Khaleej Times
05-03-2025
- Business
- Khaleej Times
UAE: Deem Finance, JP Morgan sign Dh1.46 billion securitisation facility
Deem Finance, a UAE-based consumer finance firm, has partnered with JP Morgan in an asset-backed securitisation (ABS) to support its lending activities to consumers and small and medium enterprises (SMEs). JP Morgan will be providing up to $400 million (Dh1.46 billion) through a senior revolving facility backed by a diversified pool of receivables originated by Deem — a Gargash Group company — across various asset classes. The transaction diversifies Deem's funding sources with long-term institutional financing, enhancing its ability to address underserved customer segments. Daman Investments acted as financial advisor for Deem and played a pivotal role in structuring and executing its inaugural ABS facility. Leveraging its expertise in structured finance, Daman provided advisory support across structuring, collateral analysis, cashflow modelling, regulatory matters, legal documentation and operational implementation. 'By leveraging our expertise and partnering with JP Morgan, we are enabling Deem's expansion while enhancing access to credit for consumers and SMEs. We also extend our sincere appreciation to the UAE Central Bank for its unwavering support and regulatory guidance, which has been instrumental in fostering an innovative yet robust and resilient financial ecosystem,' said Shehab Gargash, chairman of Deem Finance. 'This transaction underscores the strength of collaboration between local expertise and global financial leadership,' said Ahmed Khizer Khan, CEO of Daman Investments. 'This financing reinforces our commitment to addressing the needs of underserved communities in the UAE,' said Chris Taylor, CEO of Deem Finance. George Deves, co-head of Northern Europe ABS, at JP Morgan, said: 'We are pleased to be collaborating with Deem on this strategic transaction. Access to credit is vital for the local economy and we are pleased to work with Deem on this initiative to support consumers and small businesses in the UAE.'
